Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable input field. If an input field is not used in the table, leave the field empty.)AssetsLiabilitiesStockholders' equityDateDescriptionIncreaseDecreaseIncreaseDecreaseIncreaseDecreaseJan 2Purchased office supplies on account for $500Jan 4Issued common stock for cash for $5,000Jan 10 Performed services on account for $2,000.Jan 15 Paid amount owed to vendor for the officesupplies purchased on account on January 2

Name: Fill out the following chart to show the impact on the accounting equ
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Description: Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable input field. If an input field is not used in the table, leave the field empty.)AssetsLiabilitiesStockholders' equity

We know that the accounting equation Assets = Liabilities + Shareholders equity Therefore, we can…

Business

Accounting

Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable input field. If an input field is not used in the table, leave the field empty.) Assets Stockholders' equity Liabilities Date Jan 2 Description Purchased office supplies on account for $500 Increase Decrease Increase Decrease Increase Decrease Jan 4 Issued common stock for cash for $5,000 Jan 10 Performed services on account for $2,000. Jan 15 Paid amount owed to vendor for the office supplies purchased on account on January 2

Fill out the following chart to show the impact on the accounting equation from each transaction. (Select an "X" in each applicable input field. If an input field is not used in the table, leave the field empty.) Assets Stockholders' equity Liabilities Date Jan 2 Description Purchased office supplies on account for $500 Increase Decrease Increase Decrease Increase Decrease Jan 4 Issued common stock for cash for $5,000 Jan 10 Performed services on account for $2,000. Jan 15 Paid amount owed to vendor for the office supplies purchased on account on January 2

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.9E: Effects of transactions on stockholders’ equity Indicate whether each of the following types of...

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Identify the financial statement on which each of the following accounts would appear: the income statement (IS), the retained earnings statement (RE), or the Balance Sheet (BS). A. Insurance Expense B. Accounts Receivable C. Office Supplies D. Sales Revenue E. Common Stock F. Notes Payable
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